Mangalam Drugs & Organics Limited has secured a grant of $274,800 from The Medicines for Malaria Venture (MMV) for research and development of Pyronaridine, as announced today. The grant will support efforts to improve the production technology and efficiency of pyronaridine, a component in antimalarial combination therapies.
The shares of Mangalam Drugs & Organics Limited were trading at ₹142.05 up by ₹9.65 or 7.29% today at 12:10 pm.
MMV, a non-profit organization based in Geneva, focuses on developing innovative antimalarial treatments. Mangalam Drugs plans to commercialize the product by the end of 2024, aiming to position itself as a leading global anti-malaria API producer.
The company estimates the international market size for this treatment to reach 50 million treatments in the coming years. This development aligns with MMV’s goal of advancing new malaria treatments and optimizing combination therapies.
